Annual property sales up 20 per cent Wed, 7 Jan 2015

Annual property sales up 20 per cent

ACCORDING to official statistics published by the Department of Lands and Surveys, property sales in 2014 recorded their first year-on-year increase since 2010, growing by 20 percent to reach 4,527 compared with 3,767 in 2013. Of those 4,527 properties 3,334 were purchased by Cypriots while the remaining 1,193 were purchased by overseas buyers.

 

 

 

 

 

 

 

 

 

 

 

 

 

In an interview with StockWatch Solomon Kourouklides, the Vice Chairman of the Cyprus Real Estate Agents Association (CREAA) said “since banks are pushing people in terms of their loan obligations, property sales started in order to make arrangements. As for the developers, interest in property sales is now directed mainly to China”. Speculating on 2015, Mr. Kourouklides believes that the increase in sales will continue at the level of 2014 due to pressures from the banks.

 

 

 

 

 

 

 

 

 

 

 

Property sales in Cyprus during 2013 were at their lowest since record began in 2000 and although property sales improved in 2014, they are still down by more than 64% on the numbers sold fourteen years ago and more than 78% down on the peak year of 2007.

Read more at: http://www.news.cyprus-property-buyers.com/2015/01/07/annual-property-sales-20-per-cent/id=0047034


News

Cyprus property prices point to an accelerating growth, according to the THIRTIETH edition of the RICS (Cyprus) Property Price Index.

Cyprus property prices point to an accelerating growth, according to the THIRTIETH edition of the RICS (Cyprus) Property Price Index.

Cyprus residential and commercial real estate prices point to a continuous rapid growth according to THE THIRTIETH publication of the RICS Cyprus Property Price Index...

Demand for Real Estate Keeps Trending up in Cyprus

Demand for Real Estate Keeps Trending up in Cyprus

Real Estate Demand in Cyprus Keeps Becoming Stronger...

Strong Growth in Cyprus Property Sales

Strong Growth in Cyprus Property Sales

Strong growth in Cyprus property sales

CYPRUS’ GOLDEN VISA PROGRAM RAISES 4 BILLION EURO

CYPRUS’ GOLDEN VISA PROGRAM RAISES 4 BILLION EURO

CYPRUS’ GOLDEN Visa Program that gives foreigners residency permit or citizenship in exchange of investment in real estate has fetched €4 billion in revenue to Cyprus in the past one year.

Reasons for optimism in the Cypriot construction sector

Reasons for optimism in the Cypriot construction sector

The future of the island’s construction sector is optimistic, but repeating the illegal and short-sighted practices of the past will have extremely negative consequences on everyone.

Company Profile

A&R Cyprus-Greece Fine Properties, Ltd (A&R CGFP) is a diversified real estate services provider, exclusively representing overseas buyers and investors who are looking to buy fine residential or income producing commercial real estate properties in Cyprus and Greece. Our team has over 70-years of combined experience in the global capital markets and a deep understanding of the local real estate and financial markets of Cyprus and Greece.

Read more ...